Applying for Fixed and Individual Protection 2016

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You can protect your pension lifetime allowance by applying to HM Revenue & Customs (HMRC) for Fixed or Individual Protection 2016. There is no deadline for making an application. However, you will need to inform HMRC of the value of your pension savings on 5 April 2016 to apply for Individual Protection 2016. 
 
Although the lifetime allowance tax charge will not apply from 6 April 2023, holding a protection may still allow you take a larger tax-free lump sum.
 
If you successfully apply for protection, the online service will provide you with a reference number that you must keep. You must apply before you take your pension as you will need to give us this reference.